Societe Generale takes control of „Mobiasbanca”

Societe Generale Group took control of the Commercial Bank Wednesday, January 17 after it purchased the majority stock of the bank 10 days ago. The General Assembly of the shareholders voted the new composition of bank’s council and of the Administration Board, Info-Prim Neo reports. The head of Group’s Department for International Retail Activities in Europe, Jean-Didier Reigner told a press conference that the purchase of 70.57% of “Mobiasbanca” will allow expanding it in Europe and will contribute to the development of relations between France and Moldova. The source assured that the experience and innovations promoted by SG will allow the clients of “Mobiasbanca” to develop its business and to benefit from more products and banking services. According to the source, the Group grounds on 3 pillars: professionalism, team spirit, and innovation. Reigner said that the bank model promoted by SG outside France, including “Mobiasbanaca” is the model of a universal bank, adjusted to the local specific features, with a wide range of services provided to both individuals and companies. Also, SG intends to keep the staff of “Mobiasbanca”, to maintain bank’s technologies and its name. Jean-Didier Reigner said that SG chose “Mobiasbanca” because it proved a good management. Ranking one of the first among the Moldovan bank, its clients trust it. According to the source, an interesting fact is that the emblems of SG and “Mobiasbanca” have the same colours, red and black. Societe Generale Group, which has at present 1450 outlets and over 4.7 million clients in 6 countries in the Mediterranean zone, 10 countries in Africa, 13 countries in Europe and other 4 territories, and services over 21 mln customers in the retail banking sector. SC is the 4th largest bank in the euro zone with EUR 411 billion in assets under management and the 3rd largest bank in the euro zone by assets under custody (EUR 2,155 billion).